Viacom 18 bags media rights for India's home matches
Viacom 18 will pen a five-year deal from 2023 to 2028 with the BCCI regarding the media rights.
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During the auction on Thursday, August 31, Disney Star, Sony Sports, and Viacom18 were engaged in a three-way battle for the Board of Control for Cricket in India (BCCI) media rights. According to the most recent reports, Viacom 18 has acquired the television and digital rights to India's home matches.
From 2023 to 2028, Viacom 18 will sign a five-year agreement with the BCCI for the media rights. According to the auction's 'free for all' rule, bidding would continue until only one participant remained at the table. In addition, the rule allowed consortiums to participate in the bidding procedure.
Notable is the fact that the BCCI sold media rights in two distinct bundles. Package A (for television) had a base price of INR 20 crore, whereas Package B (for digital and the rest of the globe) had a base price of INR 25 crore.
According to a report by CNBC TV18, the apex authority also anticipates an increase in the number of games in the upcoming cycle, which will have a direct impact on viewership and financial returns.
Notably, India will host two major cricketing powers in the upcoming cycle: Australia and England. 39 of the 88 matches India will play at home during the cycle will be against the two cricketing superpowers.
With the new partners in place, JioCinema (Viacom18's OTT streaming service) will broadcast the India matches on its app, website, and television. Previously, Disney Star held the media rights for both television and digital platforms, having purchased them for INR 6,138 billion.
India's national team is preparing for their Asia Cup 2023 opening match against archrival Pakistan. On September 2, the team led by Rohit Sharma will face Babar Azam and co. at the Pallekele International Cricket Stadium in Kandy.
